LGO Energy to start drilling at Trinidad mine next week
Oil and gas firm LGO Energy confirmed that it will start drilling at its Groudon onshore field in Trinidad after the mobilisation of a rig.
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The AIM-listed company said that rig 18 was successfully mobilised to the Goudron field where it will drill at least two infill wells to the Mayaro sandstone reservoir.
The first well, H18E N4, which is expected to be designated GY-682 at spud, is to target a 200-foot thick Mayaro sandstone pay interval at a depth between 300 and 1,000 feet.
The well is expected to be set up production immediately after drilling operations are finished.
Shares in LGO Energy were up 7.56% to 0.121p at 1233 GMT.